Posted at 12:03 p.m., Friday, April 15, 2005
Business briefs: Carlyle boosts equity in Verizon deal
Advertiser Staff and News Services
NEW YORK — Carlyle Group will be contributing at least $425 million in equity to purchase Verizon Hawaii from Verizon Communications Inc., according to a report from Moody's Investors Services.After a lengthy state regulatory approval process, Carlyle agreed to increase the equity portion of the proposed bid; Verizon correspondingly agreed to lower the total purchase price to $1.6 billion from $1.65 billion.
A Carlyle spokesman had previously declined to say how much equity the firm would invest. Carlyle had originally expected to put in $300 million to $350 million of equity, according to The Wall Street Journal.
Honolulu auto show draws 60,000
Nearly 60,000 people attended the First Hawaiian International Auto Show held March 31-April 3 at the Hawaii Convention Center.
Executives of Motor Trend Auto Shows, the company that produces the First Hawaiian International Auto Show say they used the Hawaii Convention Center as the benchmark of service in comparison to the 16 other international al auto shows they produce in convention facilities across the country.
